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Aug 27th, 2008 Print this article Polymerupdate global resin pricing: Prices fall in Asia; Europe sees increasesBy Modern Plastics Editorial Staff A Polymerupdate source reports that in spite of increased purchase interest in domestic polypropylene (PP) and polyethylene (PE) in China, coupled with gains in local prices, polymers prices across the rest of Asia have been have fallen over the last week. Polyvinyl chloride (PVC) prices in South East Asia fell by $30/tonne to $1245/tonne CFR South East Asia. PP prices are also down with injection and raffia grades off $60/tonne to the $1705/tonne to $1710/tonne CFR South East Asia range. Linear low-density polyethylene (LLDPE) prices are down $90/tonne to $1745/tonne CFR, while low-density polyethylene (LDPE) rates have fallen $50/tonne to $1895/tonne CFR. In high-density polyethylene (HDPE), film prices are down to $1735/tonne CFR, while blowmolding and injection prices have settled down to $1665/tonne CFR. Despite those lower HDPE prices, Polymerupdate reports that quoting was sharply down in Asia at the start of the week.
In the Far East, general purpose LDPE offers were pegged flat from last week at $1950/tonne CFR, with buyer bid prices lower. Supplies of LDPE remain limited in Asia, with producers with EVA/LDPE swing plants concentrating production on EVA due to its current price of $2300/tonne CFR China.
In polysytrene (PS), Polymerupdate reports that Asian prices tumbled, with demand slowing to a trickle and upstream styrene monomer (SM) on the rise. General-purpose grades finished down at $1650/tonne, with high-impact also lower to $1780/tonne CFR.
Acrylonitrile butadiene styrene (ABS) prices declined again in Asia, with prices falling as buyers kept their distances from the markets, reluctant to purchase at current levels. ABS producers responded to muted demand by cutting prices $20/tonne, leaving them at $2100/tonne to $2120/tonne CFR. In related plant news, Cheil Industries reduced runs at its 450,000 tonnes/yr ABS unit at Yeosu by 20%, leaving production rates at 80%.
In European news, LLDPE butene grade contract prices were flat at euro 1565/tonne FD North West Europe, with spot prices edging higher to euro 1490/tonne FD North West Europe. Polymerupdate reports that the gains in spot prices were mainly triggered by tight LLDPE availability in the region.
Contract prices of general-purpose LDPE were assessed higher to euro 1595/tonne FD North West Europe, with sellers attributing the gains to low inventory prompting many to restock. Spot LDPE prices, however, declined due to weaker regional demand. Spot LDPE settled at euro 1510/tonne FD North West Europe, off about euro 10/tonne from the week before.
PP injection and PP copolymer grade contract prices rose in Europe firmed last week, with injection at $1345/tonne FD North West Europe and PP copolymer prices at euro 1400/tonne FD North West Europe. Spot PP prices also slipped, with PP homopolymer at euro 1280/tonne FD North West Europe, and copolymer prices settling at euro 1330/tonne FD North West Europe. Polymerupdate says a slowdown in buying coupled with ample supplies triggered the decline in spot rates. In addition, a plunge of more than $150/tonne in Asian PP prices impacted Europe’s PP markets.
PVC contract prices in Europe were flat last week at euro 1125/tonne FD North West for suspension grades. This after some PVC producers achieved price hikes of about euro 20/tonne, pushing the total gains from July settlements to euro 95/tonne. In PS, quotes were flat although a SM price fall is likely to drag spot PS rates down. General-purpose contract prices finished flat at the Euro 1575/tonne FD North West Europe, with high-impact at euro 1625/tonne FD North West Europe. In the spot market, general-purpose finished flat at euro 1250/tonne FD North West Europe, with high-impact unchanged at euro 1300/tonne FD North West Europe.
ABS contract prices were assessed unchanged in Europe last week, as general purpose and natural grade rates remained at euro 1885/tonne FD North West Europe. ABS sellers across Europe were looking to increase August rates, however, by at least euro 50/tonne, citing strength in upstream acrylonitrile and butadiene rates. In the spot market, ABS prices firmed to euro 1665/tonne FD North West Europe.
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